Monday saw crude oil prices jump nearly 3% in trading. U.S. benchmark, West Texas Intermediate crude rose $1.98 or 2.85% to close at $71.47 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude gained $2.02 or 2.76% and finished the day at $75.12 a barrel on ICE Futures Europe. Natural …
A man who reportedly planned to bomb a Tennessee energy substation by using drones carrying explosives is in custody. Just the News reported FBI agents foined the possible drone attack at the energy plant in Nashville. The suspect is identified as 24-year old Skyler Philippi who is charged with attempted use of a weapon …
Oklahoma City’s electric vehicle manufacturer Canoo is bleeding money and recorded another drastic drop in Monday’s trading of shares as leadership warned recently it might not survive. The latest trading activity raises the question whether the EV maker has crashed and burned? Canoo stock plunged 29.27% or 16 cents and closed the day …
A decision is coming soon from utility regulators in New Mexico that could mean a $23 a month bump up for customers of Public Service Company of New Mexico. It’s a $170 million rate case and much of it centers around the utility’s Four Corners Power Plant, New Mexico’s last remaining coal plant. …
The final phase of the Oklahoma Turnpike Authority’s cashless conversion of the SH-375/Indian Nation Turnpike in Southeastern Oklahoma is scheduled for mid-morning Wednesday, weather permitting. Motorists can expect to keep rolling with cashless tolling just south of US-69 near McAlester. Once the final phase is complete Wednesday, motorists will be able to travel completely …
Nine Energy Service recorded more losses in the third quarter, and the company leader expects more of the same in the fourth quarter. The Houston company, with offices and operations in Oklahoma, experienced a $10.1 million or 26 cent a share net loss on revenues of $138.2 million. Its adjusted EBITDA was $14.3 million. …
Oklahoma Gas and Electric crews in central Oklahoma managed to restore power to 94% of the firm’s customers following the Sunday morning tornadoes that left nearly 40 homes and structures destroyed. As of mid-day Monday, about 9,000 customers were still without electrical power. The same storm also damaged OG&E’s Horshoe Lake Power center …
Coterra Energy reported increased net income in the third quarter of the year. In an announcement, the Houston company, with operations in Oklahoma recorded net income of $252 million or 34 cents a share and adjusted net income of $233 million and 32 cents a share. The net income was an improvement over …
The Permian Basin remained nearly unchanged over the past week in its oil and gas drilling activity. The weekly rig count released by Baker Hughes Co. showed the Basin experienced a decline of only one rig, leaving 303 still drilling in West Texas and Southeast New Mexico. It was the most active of the …
The leader of Oklahoma City’s Mammoth Energy Services says it appears “softness” across the company’s well completion services marakets appared to “have bottomed” in the third quarter and a rebound is anticipated in the fourth quarter. The company still suffered growing losses in total earnings but at the same time, is debt free. It’s the …
